Publications
Partners
Johannesburg - Anglo Platinum [JSE:AMS], the world's largest producer
of the precious metal, said on Wednesday it had signed two-year wage deals with
the National Union of Mineworkers (Num) and two other unions, averting a strike
that could have hurt its target of 2.6 million ounces of platinum production
this year.
The agreed increases are in the 8% to 10% range, close to double the inflation rate but in line with other settlements in the mining sector.
The agreements were announced last week but Amplats gave
additional details to those already given by the unions.
It said in the second year the wage hike would be 8% plus 2%
or 9% plus 2%, depending on the worker category, should the average
consumer price index increase equals 8%.
Attention will now turn to ongoing talks with other platinum
producers including Impala Platinum Holdings [JSE:IMP], the world's
second-largest producer of the metal used for making the catalytic converters
that halt emissions from cars.
Negotiations with Northam Platinum [JSE:NHM] and Lonmin [JSE:LON] are expected to resume this month.
